Insurance against fire

INSURANCE AGAINST FIRE. A contract by which the insurer, in consequence of a
certain premium received by him, either in a gross sum or by annual
*payments, undertakes to indemnify the insured against all loss or damage
which he may sustain to a certain amount, in his house or other buildings,
stock, goods, or merchandise, mentioned in the policy, by fire, during the
time agreed upon. 2 Marsh. Ins. B. 4, p. 784; 1 Stuart's L. C. R. 174; Park.
Ins. c. 23, p., 441.
2. The risks and losses insured against, are "all losses or damage by
fire," during the time of the policy, to the houses or things insured.
3.-1. There must be an actual fire or ignition to entitle the insured
to recover; it is not sufficient that there has been a great and injurious
increase of heat, while nothing has taken fire, which ought not to be on
fire. 4 Campb. R. 360.
4.-2. The loss must be within the policy, that is, within the time
insured. 5 T. R. 695; 1 Bos. & P. 470; 6 East, R. 571.
5.-3. The insurers are liable not only for loss by burning, but for
all damages and injuries, and reasonable charges attending the removal of
articles though never touched by the fire. 1 Bell's Com. 626, 7, 5th ed.
6. Generally there is an exception in the policy, as to fire occasioned
"by invasion, foreign enemy, or any military, or usurped power whatsoever,"
and in some there is a further exception of riot, tumult, or civil
commotion. For the Construction of these provisoes, see the articles Civil
Commotion and Usurped Power.

Institute Cargo Clauses 'B' has limited coverage but provides insurance against fire, collision with external object other than water, overturning, stranding, sinking, capsizing, discharge at the port distress, jettison, general average sacrifice, ingress of sea water into the container or the vessel and total loss of goods incase goods fall overboard or dropped.

In 2011, the Commission enacted and developed the Takaful legal framework which includes several components; mainly, compulsory insurance against fire and earthquake risks for economic entities, industrial and commercial enterprises, and the official and public institutions.

The written insurance premium growth is the strongest among those of other insurance policies and exceeds insiders' expectations of between 20% and 30% after the Insurance Bureau adjusted upward rates on commercial property insurance against fire with additional coverage of natural disasters last July, a move that likely compromised sales to commercial customers.

In the Romanian non-life insurance market, both voluntary insurance against fire and other natural perils and compulsory insurance of residential property against earthquake, landslide and flooding have low levels of penetration (http://www.

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